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Shakeup At Ford: Mark Fields “Retired”, Jim Hackett Now The CEO


Shakeup At Ford: Mark Fields “Retired”, Jim Hackett Now The CEO

(Photo: Ford Motor Company) Mark Fields, the man who took the reins of Ford Motor Company, produced the aluminum F-150 pickup truck, expanded the hot-rod side of the house that is known now as Ford Performance, oversaw projects like the Focus RS, sixth-gen Mustang, and the new Raptor, is no longer the CEO of Ford Motor Company. Depending on who you ask, he was either fired or retired from his position, but the reason for vacating of the position is unanimously agreed upon: Ford’s stock price isn’t where shareholders want it to be, and there is growing concern that Ford wasn’t keeping up with current trends in the marketplace. And it’s that last line that has us concerned.

The 62-year-old Hackett, who was most recently the executive chairman of Ford Mobility, LLC and is noted for his business turnaround of Steelcase, Inc. (an office furniture company) has some set directives laid out for his tenure as CEO, laid out as such (Emphasis by Ford Motor Company):

  • Sharpening operational execution across the global business to further enhance quality, go-to-market strategy; product launch, while decisively addressing underperforming parts of the business
  • Modernizing Ford’s business, using new tools and techniques to unleash innovation, speed decision making and improve efficiency. This includes increasingly leveraging big data, artificial intelligence, advanced robotics, 3D printing and more
  • Transforming the company to meet future challenges, ensuring the company has the right culture, talent, strategic processes and nimbleness to succeed as society’s needs and consumer behavior change over time

We are a bit apprehensive about Hackett’s appointment because of his ties to Ford Mobility, LLC, which isn’t so focused on the vehicles as it is focused on data and analytics, autonomous vehicles, connectivity and “consumer experience” (from Ford about FordPass: “a digital, physical and personal platform that offers four benefits for members: a Marketplace with mobility services, such as parking and sharing; FordGuides to help consumers move more efficiently; Appreciation for members to receive recognition for their loyalty; and FordHubs, where consumers can experience Ford’s latest innovations.”)

We hope that our issues are unfounded and that Ford continues to make strives across the board, and not just in the performance arena either. The company has been jamming adrenaline needles into Lincoln to keep death at bay, and the new Continental and upcoming Navigator seem to show a path forward. The upcoming Ranger pickup can’t get here soon enough, and Ford Performance is on a roll. Hopefully Hackett can shut up the shareholders so that Ford can get to the business of making cars that people actually want to drive. (Emphasis, ours.)

In addition, five other appointments were made in an organizational restructuring:

  • Jim Farley moves from Ford of Europe to President of Global Markets
  • Joe Hinrichs moves from The Americas to President of Global Operations
  • Marcy Klevorn, former Information Technology and Chief Information Officer, is now President of Mobility
  • Mark Truby is appointed Communications Vice-President
  • Paul Ballew is appointed Global Chief Data and Analytics Officer

 


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5 thoughts on “Shakeup At Ford: Mark Fields “Retired”, Jim Hackett Now The CEO

  1. blownflattie

    Hackett should be a good short term fix for 2-3 years. Hopefully thereafter
    will be Jim Farley …an actual gearhead with great people and marketing
    skills. (He was the cousin of the deceased actor – comedian Chris Farley
    who was most remembered from Saturday Night Live.)

  2. Bob

    Maybe this is their guy to help make the transformation to manufacture of driverless cars that roam the streets and transport the worker bee masses. This will result in a lesser need for private ownership of vehicles.

    The growing elitist class in this country don’t care a wit about the use of cars for anything except their long range vision of transporting the worker bee from one place to another with a minimum effect of the precious environment.

    Vehicles for any other purpose will be phased out. Admittedly this is probably a long way out but mark my words it is their long range goal.

  3. joe banker

    The Ford family is clueless why TESLA is blowing away their share price.

    TESLA get 100% subsidized by the us gov\’t with unlimited 0% financing for space ships, solar panels, and electric cars. Musk is a TRUMP economic adviser.
    When Musk loses money, he makes a call to yelen and all is forgiven.

    Ford on the other hand loaded themselves with bank debt to maintain majority control of their company while GM took the gov\’t their bailout.
    Every time Ford stubs their toe, the bankers make life very hard for them.

    If shareholders want TESLA returns, they should buy TESLA shares.

    Now that the average new car sits on a lot for 150 – 170 days, a magician won\’t be able to fix Ford\’s bottom line. Worse, even though these new cars are 30% overpriced, raw materials and labor are at record low prices, they still manage to lose money thanks to their debt load.

    Good luck with their new strategy of car sharing

    They can chase Uber & Lyft down the tubes.

  4. tw

    Aside from the all aluminum f150 , they should make their cars more rust proof , Also looks like they spend a lot developing too many engines that are used in a too short period of time , heck , they even did an engine just for one model (raptor) we are not talking low production costs here…

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